Articles by Prachi Singh
Estée Lauder names Shane Wolf as president global brands
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The Estée Lauder Companies has appointed Shane Wolf as president, global brands, Aveda and Bumble and Bumble, effective July 1, 2024. Wolf, the company said, will report to Jane Hertzmark Hudis, executive group president, The Estée Lauder Companies, and join the company’s executive leadership team. The company added that with more than 25...
Warby Parker's revenues increase by 16.3 percent
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For the first quarter, Warby Parker's net revenue increased 28 million dollars or 16.3 percent to 200 million dollars. GAAP net loss for the quarter was 2.7 million dollars, gross margin increased 1.6 points to 56.7 percent, while adjusted EBITDA reached 22.4 million dollars and adjusted EBITDA margin was 11.2 percent. The company opened eight...
Safilo sales hit by North America, lower Jimmy Choo sales
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In the first quarter, Safilo's net sales amounted to 277.2 million euros, down 1.8 percent at constant exchange rates and 3.5 percent at current exchange rates influenced by the reduction in sales of Jimmy Choo. The company said in a statement that the other main drivers of the period were the weak performance of North America and the temporary...
Shopify reports strong first quarter
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Shopify’s first quarter gross merchandise volume (GMV) increased 23 percent to 60.9 billion dollars. Revenue also increased 23 percent to 1.9 billion dollars, translating into year-over-year growth of 29 percent after adjusting for the sale of logistics businesses. “Our outstanding Q1 performance is clear proof of our dedication to the new shape...
Wolverine Worldwide Q1 revenues drop 34 percent, names new CFO
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Wolverine Worldwide revenues of 394.9 million dollars declined 34.1 percent or 34.6 percent on a constant currency basis. Revenues from the ongoing business were down 24.5 percent or 25.1 percent constant currency to 390.8 million dollars. Gross margin for the quarter improved 650 bps to 45.9 percent, while adjusted gross margin improved 250 bps...
Delta Apparel Q2 loss widens
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Second quarter net sales at Delta Apparel decreased to 78.9 million dollars. Salt Life Group segment net sales declined to 15.5 million dollars compared to the prior year period, while net sales in the Delta Group segment declined to 63.4 million dollars. Gross margins for the quarter were 4.3 percent compared to 14.7 percent in the prior year...
Burberry CFO Kate Ferry takes short leave of absence
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Burberry Group’s chief financial officer Kate Ferry will be taking a short leave of absence after undergoing unscheduled surgery. The company said in an announcement that Ferry is expected to resume her normal duties in June 2024. Ferry joined Burberry last year. She is responsible for finance and business services functions reporting to chief...
Boohoo posts revenue and profit decline in FY24
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Boohoo Group GMV was down 13 percent to 1,809 million pounds for the fiscal year 2024, as group performance continued to be impacted by a difficult macroeconomic environment. The company said that revenue for the year of 1,461 million pounds, declined 17 percent reflecting increased focus on profitability and difficult market conditions. Boohoo...
Puma reports marginal first quarter sales growth
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Puma Puma sales increased by 0.5 currency adjusted to 2,102.3 million euros in the first quarter. Supported by the continued brand momentum and despite ongoing geopolitical and macroeconomic challenges, Puma expects to achieve mid-single-digit currency-adjusted sales growth and an operating result (EBIT) in the range of 620 million euros to 700...
Mister Spex acheives Q1 sales growth of 2 percent
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Omnichannel optician Mister Spex reported a 2 percent growth in the first quarter achieving sales of 51.1 million euros. The company said that the development in the key product categories was impacted by an earlier Easter, which negatively affected the number of working days and therefore, the production of prescription glasses. Commenting on...